- DeFi platform Sky’s community is considering moving back to the Maker brand
- The community thinks that the move to Sky created confusion in the market leading to negative sentiments
- Maker rebranded to Sky in August
Two months after rebranding from Maker to Sky, the DeFi platform’s community is considering returning to the original brand. The community believes that the rebrand created confusion leading to reduced uptake of the DeFi network. A proposal by Sky’s cofounder Rune Christensen outlines three paths that the project can follow to resolve the confusion and the negative feedback, indicating that even the project’s team recognizes that the rebrand didn’t go as expected.
Two of the Three Options Involve Going back to Maker
According to Christensen, the community can choose to “continue with Sky as the core brand […] recenter the Maker brand with its original identity [or] recenter the Maker brand with a refreshed brand identity.”
The second option revolves around returning to the original Maker brand and reinstating the protocol’s base token, MKR, as the only governance token of Maker DAO. The third option involves returning to the original brand but making some adjustments to align with other products in the Sky ecosystem such as “USDS and the StarDAOs.”
Some who have commented on Christensen’s proposal have noted that going back to “the original MKR token would be the simplest approach.” Others, however, think that rebranding back to Maker is a “step back” from the original plan to move to Sky.
Sky’s Governance Model Questioned
Others have questioned the DeFi protocol’s current governance model that relies on delegates. According to them, it would be better to return governance powers to the larger community of MKR holders for a balanced opinion on whether or not to rebrand back to Maker.
The Sky co-founder disclosed that he will conduct a community call on Friday, October 25 with a governance poll scheduled for early next month. The rebrand to Sky has caused the MKR token to shed close to 50% of its value since August.
With two of the three paths involving returning to the Maker brand, it’s likely that Sky may soon be rebranded back to Maker.
